EUROPEAN Union firms were not ready for a no-deal Brexit when Britain was due to quit the bloc on March 29, Express.co.uk can reveal.

EU officials have conceded that businesses on the Continent had “not had sufficient time” to prepare for the affects of a no-deal Brexit. Brexit has since between delayed two times by Theresa May and her EU counterparts, with Britain now scheduled to leave on October 31, 2019. Eurocrats have since urged businesses “to take advantage of the extra time” afforded to them, according to an internal European Commission document seen by Express.co.uk.

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The bloc has also “adopted 16 non-legislative contingency acts” designed to “mitigate the most significant disruptions” of a no-deal Brexit.

But the measures are now “obsolete” because of the Brexit delay, leaving loopholes to chaos unless the Commission readopts them before November 1.

Brussels has also proposed 19 legislative acts, which are designed to maintain air travel, keep goods flowing and maintain citizens’ rights in the event of a no-deal.

The Commission paper said: “While the Commission does not speculate on the possible economic implications of different scenarios, it is clear that a withdrawal of the UK without an agreement would have a serious negative economic impact.”

The paper adds: “This impact would be proportionally much greater in the United Kingdom than in EU27 member states.”

The Commission is ready to step in to provide financial support "to mitigate the most affected areas and sectors" from no-deal harm.